CBRE Advises on Sale of Inpatient Rehabilitation Facility in Albuquerque MSA

CBRE is pleased to announce that it facilitated the sale of the ClearSky Rehabilitation Hospital, a 32,363-square-foot inpatient rehabilitation facility (IRF) located at 2401 Westside Boulevard Southeast in Rio Rancho, New Mexico.

Chris Bodnar, Brannan Knott, Zack Holderman, Cole Reethof and Jesse Greshin of CBRE U.S. Healthcare Capital Markets partnered with Jim Dountas of CBRE’s Albuquerque Capital Markets team to act as the exclusive advisors to the developer and seller, Westside Blvd. Capital, LLC.

The ClearSky Rehabilitation Hospital of Rio Rancho is absolute net leased through 2041 by ClearSky Health, one of the fastest growing IRF operators in the country. Originally constructed in 2020 and retrofitted with $1.8 million to comply with regulatory codes, the facility features 36 beds, a rehabilitative gym with specialized equipment, a dining room with a dedicated chef and food service staff, and an activity of daily living space for patients recovering from brain injuries, strokes, amputations, complex orthopedic injuries and other high acuity conditions. Ideally situated less than two miles from Rio Rancho’s major hospitals, Presbyterian Rust Medical Center and Lovelace Westside Hospital, the property benefits from major medical institutions located in the area to provide care in a community-based outpatient setting at a lower cost with superior outcomes.

“Protected by geographic barriers, this hospital is a strong performer in a growing market with consistently high patient volumes,” said Chris Bodnar, CBRE’s Vice Chairman of the U.S. Healthcare Capital Markets practice. "The combination of market stability and sustained census makes it an excellent long-term investment for the purchaser.”

Rio Rancho is widely recognized as a prosperous submarket of the Albuquerque metropolitan area, where the average household income within a one-mile radius of the property is $136,767, 42% higher than the Albuquerque MSA. The ClearSky Rehabilitation Hospital of Rio Rancho is the only rehabilitation hospital within a 10-mile radius, attracting patients from two local hospitals and benefits from the affluent demographic and strong local market fundamentals.